IMAX signs 2-theatre deal in North American

MUMBAI: IMAX Corporation and Goodrich Quality Theaters, Inc., an exhibitor based in Grand Rapids, MI, today announced an agreement to install two IMAX theatres in new multiplexes planned for construction in 2008 and 2009.

Under the terms of the agreement, Goodrich Quality Theaters will install an IMAX MPX theatre in the new Hamilton 16 IMAX in a Simon Properties Mall on the far eastside of Indianapolis in March 2008. In the fourth quarter of 2009, in a yet to be announced location in Michigan, Goodrich will install IMAX’s new digital projection system, which is in the advanced stages of development.

“Our first two IMAX theatres became excellent grossing multiplex screens in the far western and far eastern Chicago suburbs for some of the biggest movies of the year,” said Bob Goodrich of Goodrich Quality Theaters. “Based on this initial success, we are confident to expand our chain of IMAX locations and offer even more moviegoers the opportunity to see Hollywood films and educational films in the most immersive way available.”

Goodrich continued, “We felt it was important to experience the new digital projection system IMAX is developing first hand to ensure it delivers the quality of the IMAX brand. We’re now looking forward to taking advantage of this technology at our new location in 2009, and we continue to believe that IMAX is perfect moviegoing.”

“The digital theatre system that we are developing is continuing to impress exhibitors and fuel the growth of the IMAX network,” said IMAX co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechsler. “Nothing reflects enthusiasm for the IMAX theatre business better than an exhibitor’s decision to add more IMAX locations. We are delighted to expand our relationship with Bob Goodrich and the rest of the team at Goodrich Quality Theaters. We look forward to working with them to deliver The IMAX Experience through our next generation of IMAX theatre technology.”

The digital system being developed by IMAX is configured for an IMAX MPX-style auditorium, which is designed specifically to enable multiplex operators to more cost effectively enter into the IMAX theatre business, either by retrofitting an existing stadium seating auditorium or via an economical new build. Both systems are capable of showing Hollywood movies that have been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience in both IMAX and IMAX 3D, as well as original IMAX documentaries.